About

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Statoil an engineering, procurement, construction and installation lump-sum contract for the Norne field development, located in the Norwegian Sea at a water depth of approximately 380 meters.

The contract covers the:

engineering and fabrication of two flexible smoothbore gas export risers*,

marine operations to remove one existing roughbore riser connecting the Norne floating production storage and offloading (FPSO) unit with the gas export pipeline, and replace it with one of the new flexible smoothbore risers,

provision of the second flexible smoothbore gas export riser on a reel to Statoil as spare for future use.

Technip's operating center in Oslo, Norway will execute the contract which is scheduled for completion in the second half of 2014. Fabrication of the risers will take place in the Group's Flexi France plant in Le Trait, France. Offshore installation will be notably executed with the Normand Progress, a flexible pipelay vessel from Technip fleet.

Technip's patented leading flexible smoothbore riser technology eliminates noise and vibration issues, reduces pressure losses as well as need for compression (being an overall benefit to the environment) and helps increase the overall capacity of the system.

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* Riser: a pipe or assembly of pipes used to transfer produced fluids from the seabed to surface facilities.

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Technip is a world leader in project management, engineering and construction for the energy industry.From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 36,500 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges.Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPY).